Toromont Industries (TIH) Set to Announce Earnings on Wednesday

Toromont Industries (TSE:TIHGet Rating) will be announcing its earnings results after the market closes on Wednesday, April 27th. Analysts expect the company to announce earnings of C$0.68 per share for the quarter.

Toromont Industries (TSE:TIHGet Rating) last issued its quarterly earnings results on Wednesday, February 9th. The company reported C$1.28 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.17 by C$0.11. The business had revenue of C$956.00 million for the quarter, compared to analysts’ expectations of C$1.11 billion.

Shares of TIH stock traded down C$3.42 on Tuesday, reaching C$116.34. 19,106 shares of the company’s stock traded hands, compared to its average volume of 139,519. The company has a market capitalization of C$9.59 billion and a P/E ratio of 29.31. Toromont Industries has a 12-month low of C$97.76 and a 12-month high of C$124.25. The company has a debt-to-equity ratio of 34.09, a quick ratio of 1.68 and a current ratio of 2.59. The business’s 50 day moving average price is C$115.72 and its two-hundred day moving average price is C$112.06.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Monday, April 4th were given a dividend of $0.39 per share. This is a boost from Toromont Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $1.56 dividend on an annualized basis and a yield of 1.34%. Toromont Industries’s dividend payout ratio (DPR) is presently 34.00%.

In other news, Senior Officer Jennifer Cochrane sold 4,000 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of C$116.25, for a total transaction of C$465,000.00. Following the transaction, the insider now owns 11,500 shares in the company, valued at C$1,336,875. Also, Director David Allan Malinauskas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of C$113.75, for a total value of C$1,137,500.00. Following the transaction, the director now owns 2,070 shares in the company, valued at approximately C$235,462.50. Insiders sold a total of 27,300 shares of company stock valued at $3,138,100 over the last quarter.

A number of analysts recently issued reports on the company. Scotiabank lifted their price objective on Toromont Industries from C$122.00 to C$125.00 in a research report on Friday. National Bankshares boosted their price target on Toromont Industries from C$125.00 to C$126.00 in a research report on Wednesday, January 5th. CIBC boosted their price objective on Toromont Industries from C$118.00 to C$123.00 in a research report on Thursday, April 21st. BMO Capital Markets raised their price objective on Toromont Industries from C$124.00 to C$126.00 in a research report on Thursday, February 10th. Finally, TD Securities lifted their price target on shares of Toromont Industries from C$120.00 to C$125.00 and gave the stock a “hold” rating in a research note on Monday, February 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Toromont Industries currently has a consensus rating of “Buy” and a consensus price target of C$124.20.

Toromont Industries Company Profile (Get Rating)

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Earnings History for Toromont Industries (TSE:TIH)

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